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SEC Approves Enhanced Disclosure About Risk, Compensation and Corporate Governance

SEC Approves Enhanced Disclosure About Risk, Compensation and Corporate Governance

by Toby Lucich on April 27, 2010

(12/16/2009)
The Securities and Exchange Commission today approved rules to enhance the information provided to shareholders so they are better able to evaluate the leadership of public companies.

In particular, the new rules require disclosures in proxy and information statements about:

  • The relationship of a company’s compensation policies and practices to risk management.
  • The background and qualifications of directors and nominees.
  • Legal actions involving a company’s executive officers, directors and nominees.
  • The consideration of diversity in the process by which candidates for director are considered for nomination.
  • Board leadership structure and the board’s role in risk oversight.
  • Stock and option awards to company executives and directors.
  • Potential conflicts of interests of compensation consultants.

The new rules, which will be effective Feb. 28, 2010, also require quicker reporting of shareholder voting results.

SEC Approves Enhanced Disclosure About Risk, Compensation and Corporate Governance

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